Will Eglin, chairman and CEO of LXP Industrial Trust (NYSE: LXP), sat down for a video interview at Nareit’s REITweek: 2024 Investor Conference, held in New York from June 3-6.
Eglin highlighted LXP's resilience in a high interest rate environment, citing strong tenant retention and the ability to increase rents despite market pressures. "Our ability to maintain high tenant retention and raise rents reflects our strong market position and strategic portfolio management,” he said.
With a portfolio averaging less than 10 years old and half of its tenants investment grade, Eglin emphasized LXP's advantageous position. Looking forward, he sees significant growth opportunities, particularly in organic rent increases and lease escalations within their existing portfolio.
Additionally, Eglin pointed to the potential earnings and EBITDA boost from completing ongoing developments. He noted the importance of leveraging the development pipeline and land bank to enhance shareholder value and pointed to the market's undervaluation of income-producing assets within their portfolio.